While the business world is preoccupied with the global economic recovery, a mobile revolution has been quietly reshaping the marketplace in the developing world. In Africa, mobile phones are providing access to communications for millions of people who’ve never had fixed communications let alone cell phones. I’ve written before about the impact that such ‘leapfrogging’ is having on African business. Now, we’re beginning to see exciting and substantial commercial projects taking shape, particularly in the service sector.
One of the more satisfying experiences at year’s end is reaching out to clients, partners and colleagues to thank them for their business and their stalwart support. It’s even sweeter this time while reflecting on an entire decade going back to the early days of my business.
Information’s pretty thin stuff unless mixed with experience. ~Clarence Day
Nearly every day, I work with colleagues who are eight or more time zones away. I’ve been doing this, with few interruptions, since the ‘80s. Back then, “geographically distributed” projects were run only by multinational corporations. Times have changed.
Global markets have become more interdependent, and collaboration across borders is now commonplace, even at smaller companies. Businesses know that they have to team up with companies in other regions to compete in the global “value creation” race*.
But a lot of companies struggle with this. In a June, 2009 survey by TMA World, 82% of respondents rated the performance of their company’s “global, virtual” teams as either ‘moderate’ or ‘poor’. Yet nearly all of those surveyed said that global teams were ‘very important’ to their organizations.
Over the last few weeks, my colleagues and I presented value propositions to separate audiences in Europe, Africa and the Middle East. Clients in each of these markets face unique challenges and opportunities to be sure. Our offerings addressed their different needs, but our approach is fundamentally the same everywhere.
Our work consists of three steps:
1) Develop a better understanding of customer needs by getting closer to customers and engaging them wherever possible,
2) Use customer insights to continually improve offerings,
3) Deliver a customer experience that’s better than the rest.
The good news is that these steps apply to clients everywhere, despite cultural variations. The not-so-good news is that succeeding with these steps is almost impossible unless there is substantial buy-in at the highest level in an organization.
I’ve recently noticed a subtle but perceptible attitude shift among Americans working in foreign markets. My overseas colleagues are noticing, too. American business people, they say, are displaying more thoughtfulness than usual. U.S. companies operating overseas seem less inclined to approach global business as though its epicenter is in New York or Palo Alto.
It’s too soon to call this a new Zeitgeist, but change is in the air. The global economic crisis, which has its roots in the U.S., may be partially responsible. I think the new vibe is also influenced by Washington’s new tone in its approach to global affairs. As an American doing business abroad, this is promising.
Historically, many American firms have approached business from a decidedly ethnocentric perspective–more so than many of our European rivals. U.S. companies have missed opportunities as a result.
Things seem to be moving in a better direction now.
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